Beijing Takes A Knee – China Central Bank Tells National Banks To Halt Business With North Korea…

Beijing is quickly recognizing they have painted themselves into an economic corner. Beijing enables the DPRK.  President Trump specifically targets this reality as the solution to North Korea’s aggression: ¹Beijing tells DPRK to do stupid thing.  ²DPRK does stupid thing.  ³Trump hits Xi Jinping with economic punishment for stupid thing.

In an effort to keep the panda mask as the primary focus of the international (investment) community; and facing another set of financial sanctions by President Trump and Secretary Mnuchin; and after President Trump explains to Xi Jinping that unrelenting  economic pressure will only get worse; Beijing tells Chinese banks to cut off financial relationships with North Korea.

BEIJING/HONG KONG (Reuters) – China’s central bank has told banks to strictly implement United Nations sanctions against North Korea, four sources told Reuters, amid U.S. concerns that Beijing has not been tough enough over Pyongyang’s repeated nuclear tests.

Tensions between the United States and North Korea have ratcheted up after the sixth and most powerful nuclear test conducted by Pyongyang on Sept. 3 prompted the United Nations Security Council to impose further sanctions last week.

Chinese banks have come under scrutiny for their role as a conduit for funds flowing to and from China’s increasingly isolated neighbor.

The sources said banks were told to stop providing financial services to new North Korean customers and to wind down loans with existing customers, following tighter sanctions against Pyongyang by the United Nations.

The sources said lenders were asked to fully implement United Nations sanctions against North Korea and were warned of the economic losses and reputational risks if they did not do so.

Chinese banks received the document on Monday, the sources said.

China’s central bank did not immediately respond to a request for comment.

“At present, management of North Korea-related business has become an issue of national-level politics and national security,” according to the document seen by the sources.

The document directed banks to explain to any North Korean customers that “our bank is fulfilling our international obligations and implementing United Nations sanctions against North Korea. As such, we refuse to handle any individual loans connected to North Korea.”

The document did not specify whether existing North Korean account holders could still deposit or remove money from their accounts. (read more)

Advertisements
This entry was posted in Big Government, Big Stupid Government, China, Japan, media bias, N Korea, President Trump, Uncategorized, United Nations, US Treasury, USA. Bookmark the permalink.

112 Responses to Beijing Takes A Knee – China Central Bank Tells National Banks To Halt Business With North Korea…

  1. magatrump says:

    Winning!

    Liked by 7 people

    • carrierh says:

      But will China stop taking in NKers as servants? NK has been their source for a long time and as many Chinese are making good bucks, they want servants and from NK they are cheap and more or less slaves. BUT, they are eating better for sure.

      Like

  2. DeplorablePatriotInCa says:

    President Trump is getting results. MAGA!

    Liked by 22 people

  3. Minnie says:

    However:

    (Per Fox)

    China’s surprising instructions to banks this week, however, were at least partially undermined when South Korea on Thursday approved $8 million in supposed humanitarian aid to North Korea.

    Some South Korean officials fear the new aid will send a mixed signal to international leaders. Son Kim-ju, a lawmaker and spokesman of the opposition People’s Party, told The Associated Press the announcement is “badly timed.”

    “The international community is strengthening sanctions and pressure against North Korea and even [President Moon Jae-in] is in the United States to strengthen international coordination against the North Korean problem,” Son said. “If our government contradicts itself and beats to a different beat, it won’t be able to gain the approval of its own people, let alone other countries.”

    Liked by 2 people

      • Minnie says:

        Thanks, Sundance

        (2:40, and more particularly 3:10)

        Especially 3:20!!

        Liked by 8 people

        • daizeez says:

          Noticed the President’s raised eyebrows when the interpreter said the word deplorable. Loved the verbal response too.

          Liked by 9 people

          • That was definitely funny. It’s good that they all laughed at the joke. Of course, in 3..2..1… the enemedia will be lecturing PDJT about making jokes about such serious matters. I know this because it was 5 sec after PDJT told Mme Macron that she “looked good” and “took care of herself” that it was inappropriate to compliment a woman on her looks.

            Liked by 4 people

      • The Tundra PA says:

        Can’t miss how lovingly Moon gazes at The Lion every time the interpreter is translating our President’s words. The world loves and adores seeing strength in the American leader.

        Liked by 6 people

      • domain496 says:

        Panda blinks first

        Liked by 1 person

      • John says:

        So, this is essentially a blockade (IMO).

        If the blockade is mostly successful, NRK starves in weeks.

        NRK will try to run the blockade both at sea (to various ports) and inland (mainly to china but maybe a bit to Russia).

        We have the ability to shut transit out of the ports down.

        China has the ability to shut transit inland down (with a little but of Russian help).

        Posit:
        1) The China/Russia border will leak (our Mex/Can certainly do) but not enough to support NRK if China in particular gets serious. If not sanctions will (might?) be enforced.

        2) NRK will try and get boats out for both imports/exports. Will we stop and seize them?

        3) China will get caught violating sanctions. Will PDJT enforce punishments?

        I suspect we will have a Naval engagement in short order, followed if not presumed by evidence of Chinese trucks continuing to ship to NRK. Both NRK and China will test how far PDJT will go to enforce.

        If the US takes the hardline reading of the sanctions and stops NRK boats on the open sea, there is gonna be shooting.

        Watch for non-essential US personnel getting moved out of Seoul and the off the DMZ line. That will be the sign things just got really serious.

        Things could get kinda bumpy once the shooting starts.

        Like

    • mimbler says:

      That’s insane! Don’t let them borrow money, just give it to them. Yes, I’d say that sends mixed signals. At least it isn’t our money as we no longer give foreign aid to South Korea.

      Liked by 2 people

  4. MakeAmericaGreat says:

    And I know it’s gonna be a long, long time…

    “We are gonna win, win, win. We’re going to win with military, we’re going to win at the borders, we’re going to win with trade, we’re going to win at everything. And some of you are friends and you’re going to call, and you’re going to say, ‘Mr. President, please, we can’t take it anymore, we can’t win anymore like this, Mr. President, you’re driving us crazy, you’re winning too much, please Mr. President, not so much, and I’m going to say I’m sorry, we’re going to keep winning because we are going to make America great again.”

    Liked by 20 people

  5. Plain Jane says:

    I was born right after the end of WWII. That was 72 tears ago. My President and Weapon is averting WWIII. I love him.

    Liked by 22 people

  6. Landslide says:

    Just heard this on the radio while driving!! I was shouting in the car—“Yeah, baby! Go Trump!!” It’s a great day to win some more!👍🏻🇺🇸👍🏻🇺🇸

    Liked by 18 people

  7. Joe says:

    Too funny! The commies commenting all of the sudden don’t like the Chicoms. Most, of course are posting with an iPhone made in China.

    Liked by 12 people

  8. sundance says:

    Nothing Beijing does at this point matters.

    Remember that.

    This is the mentality a person must have when confronting China. Pressure must be unrelenting. China does not understand mutual terms; they hold a zero-sum outlook on all things confrontational. Either they win, or they lose. There is no mutually beneficial terms possible.

    China must accept responsibility for the DPRK nukes publicly. That is the goal. When that goal is achieved (via 6 party talk negotiations) then, and only then, is the DPRK problem solved.

    Beijing (Red Dragon) is trying to avoid that public responsibility, but retaining their Panda face.

    President Trump will not relent, even against the advice of people in his outer circle. They don’t understand. Trump has waited 30 years for this moment. China (red dragon) is in retreat, no-one has ever put Beijing into retreat…. The panda mask shield isn’t working…. Trump won’t relent….

    Trump knows China.

    Trump knows how China negotiates.

    Trump knows how China thinks.

    Trump will smile. Trump will continue diplomatic niceties. Trump will talk warmly and respectfully. However, Trump will not relent.

    Liked by 51 people

    • Minnie says:

      Thank you!

      Liked by 6 people

    • Ditch Mitch says:

      TRex was made SoS for that specific reason. TRex knows China. China’s announcement on banks to not do business with DPRK is a retreat as you say SD, but China has not actually taken responsibility. Next step please!

      Liked by 3 people

    • BobBoxBody says:

      Boom. Headshot.

      Liked by 3 people

    • fleporeblog says:

      I absolutely agree SD! I also think their One Belt, One Road Initiative is critical to China’s survival both economically and more importantly to save the lives of the 1.7 billion Chinese that live in their country. China is in a terrible situation in terms of natural resources especially clean water. How can the Chinese push their One Road, One Belt Initiative throughout Asia, Africa and the ME if they are seen to be the hand that holds the trigger in NK. No one will trust them for one minute.

      Also the fact that India and Japan are considering countering the One Road, One Belt Initiative must be scaring China to DEATH! They realize that our President and President Modi of India are really good friends that have a deep admiration for each other. They also realize that the Indians have the capacity to create new products the same way the US can. The last thing they want to see is our President turn his entire focus towards India to cut off China. Their economy will crumble within a year or so.

      Ivanka’s visit to India at the end of November is HUGE! The fact her and Jared cancelled their visit to China in September is also HUGE. I truly believe that we will see the end of the NK issue begin in a few weeks and be done with by the beginning of the New Year.

      At that point, our President will turn his full and undivided attention towards IRAN!

      Liked by 11 people

      • chojun says:

        I think the key difference between India and China in terms of economy and economics is that China largely used central banking tactics – e.g. currency manipulation – coupled with taking advantage of/cheating on trade arrangements to build their economy.

        From the Indian folks I’ve known, it appears that India has invested a great deal in education (especially technical training) in their workforce. The road for India is rocky and long but they’re starting to see benefits of it. China, on the other hand, has seen explosive, mind-numbing growth but are faced with certain disaster if their key assumptions that they’ve build their economy on are changed.

        Their assumption that the US will continue to be willingly taken advantage of is now dead and gone. Their assumption that the US would continue to willingly under-utilize certain economic activities and output is now dead and gone. China is in a very, very precarious position with their economy.

        Trump knows this and his embrace of India’s Modi likely sent shockwaves through the Communist party’s central planners in China.

        Liked by 8 people

        • kiskiminetas says:

          China has sucked so much wealth out of the USA. It is great that the gravy train is coming to an end. Their people will be hitting hard times as the leaders of China will continue to fund their military, its expansion to other countries and the South China Sea.

          Like

      • soozword says:

        “…At that point, our President will turn his full and undivided attention towards IRAN!”
        Not so undivided—give Pakistan a bit of his attention too.

        Liked by 2 people

      • Plain Jane says:

        Am thinking that Iran, if they have any smarts, are watching this play out, and are saying “holy pig” and are calling on their moon god for new ways to deceive. Iran imbibes in even more self deification than rocket man so they may think they are smarter.

        Liked by 1 person

      • WSB says:

        So, with OBOR is there any chance that laundered funds end up in NK? And if the Trump Admin tracks any nefarious laundering, I am assuming that would be quite a phone call prior to PT making an announcement.

        Liked by 1 person

    • Alison says:

      This might be one of your finest statements, Sundance!

      Thank you.

      Liked by 3 people

    • sobriquet4u says:

      I have been “indoctrinating” my husband over the last several months regarding “how NK will be handled” according to Sundance. Step by step I have read to him from CTH. He came running into my reading room an hour ago and said, “your right about China”! “What is that website your getting this roadmap of info. from?” ME SMILING!

      Liked by 12 people

    • Oldschool says:

      Thank you SD. Without your analysis, I wouldn’t have a clue. Better than buying a vowel!

      Liked by 3 people

    • progpoker says:

      And the Main Scream Media will continue the Muh Russia charade because they don’t know what else to do. They have no idea what President Trump is doing. Way above their pay grade!!

      MAGA!!

      Liked by 3 people

      • Main Scream Media: I love that. They are basically puppets with someones hand up their back side telling them the talking points to parrot.

        They will not EVER give the POTUS any respect, no matter how successful the outcome regarding NoKo, trade imbalance with China or benefits of a re-negotiated NAFTA.

        Thanks to Sundance, we know the real score.

        Now, if we could only turn loose Mnuchin and Ross on our Congress, we might get somewhere domestically.

        Liked by 2 people

  9. tgmccoy says:

    Big Panda has given fat boy an Atomic wedgie.
    Thank Mr. President..

    Liked by 4 people

  10. chojun says:

    I think unrelenting pressure on DPRK’s enablers is what we’re getting. GOOD.

    Liked by 5 people

    • chojun says:

      For the record – I still think that all roads in North Korea lead to war – the North Korean regime will resort to open conflict to (attempt to) enable its self preservation. However, the goal at this point for the Trump admin will be and should be to twist the Chinese arms into dropping open support for the DPRK because it would be far too economically costly for them to continue their strategic support of North Korea.

      China and North Korea are already at ‘check’ and check mate is only a couple moves away. And Kim Jong Un will throw the game board and pieces on the floor and then perish.

      Liked by 1 person

      • mimbler says:

        I still hold the hope of a military coup if Kim goes too far. The military knows what their capability is, and I would hope they aren’t suicidal.

        Liked by 2 people

        • chojun says:

          I think based on stories I’ve read from defectors that the most likely outcome of a military coup would be a replacement of Kim Jong Un that is still friendly to the party and regime. I think Un holds a significant amount of power but the party really controls all in the Communist system.

          A recent news story I read about a defector from NK, whose father was a more senior military figure, is that even the middle and upper-echelon military commanders and generals are under significant scrutiny in NK. A coup would be very difficult to pull off there (but nothing’s impossible).

          When it all comes down to it I don’t even honestly think NK has the military hardware to stage a serious coup – that place is the largest Potemkin village in the world.

          Liked by 6 people

          • Sanj says:

            In NK, from birth, you are required to snitch on friends and family for real and made up crimes against the state. Therefore, everyone is highly paranoid and makes a coup especially difficult. Also, I’m not sure we’ll like the results of a coup.

            Liked by 1 person

          • mimbler says:

            Thank you Chojun. I really appreciate your insight as so little is known about NK, and I’ve been curious.

            Liked by 1 person

      • mossback says:

        My thoughts exactly.

        Liked by 1 person

      • sundance says:

        …”For the record – I still think that all roads in North Korea lead to war”…

        It will be quite odd to watch China fighting North Korea in a war, because that’s the only conflict possible.

        Liked by 10 people

        • chojun says:

          My assumption is based on a couple things, mainly that North Korea would be the first to strike and China, in an effort to keep the panda mask on, would not come to North Korea’s defense (a response scenario they’ve indicated already).

          North Korea’s chief economic export is fear and threats of violence, for which they receive in exchange essentially ransom dollars (the dynamic is a little different with Chinese investment into the NK economy though). When nations and economies stop buying into this I think NK will become desperate and we may see another _ROKS Ceonan_ incident or bombardment of Yeonpyeong and the like.

          The key difference is that Trump is at the helm instead of Obama and any sort of incident like this will *NOT* be dealt with using strategic patience. Indeed, it would be met with overwhelming force. Fire and fury.

          Liked by 1 person

          • TheLastDemocrat says:

            FOLKS, THIS IS WHAT WE ARE ABOUT TO GET LAMBASTED WITH IN THE MSM:

            “Trump is pushing us ever-closer to war.”

            I guar-un-tee. This will be the theme of every editorial tomorrow. Chojun is the advance guard.

            AND, when it happens that war does not break out, the MSM will claim some OTHER cause, besides Trump’s economic through-China approach.

            Trump will be labeled a Conservative War Monger for playing Chicken, as JFK did with Cuba Missile Crisis, and will be described as lucky that China blinked first.

            Thus, even though Trump’s economic approach is averting war, he will be blamed for being a war-monger who got lucky that other factors failed to go his war-way.

            Like

            • chojun says:

              I think the media will happily project a persona of war-mongering instability on Trump. We saw this with the ridiculous “nuclear codes” question during the campaign.

              But I’m not sure if you’re accusing me of being in line with the media though. I’m far from it. The only issue that I’m trying to raise is that I really, deeply believe that the North Korean regime will not collapse without a very brief resumption of conflict. Trump’s strategy right now is partly to tie China’s hands so that they will choose not to join a conflict this time around like in the Korean War. By implementing the severe sanctions today I think the administration is prepared for and accepting intense humanitarian consequences one way or another, whether the entire country collapses or they attack ROK or Japan or Guam or whoever and Pyongyang goes up in a puff of smoke.

              Folks, North Korea/Kim Jong Un will never, ever let go of their nuclear weapons program. Their economy depends on it.

              Like

          • WSB says:

            Which is why I wonder about OBOR upthread. Some of the countries China is working in are pretty sketchy and may just become laundromats for financing NK. Is that possible?

            Like

        • 94corvette says:

          One of my closest friends observed last week that China would be the one to take NK out as they have nothing to lose if SK has collateral damage. On the other hand, the US would.

          Liked by 1 person

      • TheLastDemocrat says:

        Chojin – self preservation from whom? They have two ways to survive- fight China to again be the hand in the puppet, or follow how U.S. and other countries are self-preserved. Capitalism, individual property rights rule of law representative democracy.

        Liked by 2 people

      • MaineCoon says:

        I would think that one way or another Rocketman’s days in office are numbered.

        Liked by 1 person

  11. 4sure says:

    Trump knows who the NK puppet master is and he is going to cut the strings through economic sanctions on China. This could HAVE BEEN DONE YRS. AGO BUT THE UNIPARTY sold out to the globalists. Trump is not selling out to the globalists. Why would he?

    China cannot survive w/o USA trade. They value it more than a tin pot regime who can provide china w/absolutely nothing but a thorn in the side of America. Trump is removing that thorn. And the fake news and globalists know that once that thorn is removed, Trump will remove the rest of them. If Trump can defeat the second most powerful nation in the world (China), the one’s in the ME are child’s play. And make no mistake. This is not a defeat of little Rocket Man. This is a defeat of CHINA. And ONLY TRUMP can pull it off. And all those clowns at the UN now know it.

    Liked by 11 people

    • BobBoxBody says:

      Yes! Trump bringing China to heel is also going to obliterate the Swamp’s attacks against him. Between this and swatting Putin in the nose with a rolled up newspaper with our exporting fuel to Europe, the whole “muh Russia” conspiracy implodes and makes the Swamp look even worse.

      Liked by 3 people

    • TheLastDemocrat says:

      What does China get out of NK, versus from U.S. — has NK enabled China to access Iran money, in exchange for nukelar development?

      Like

      • Tejas Rob says:

        I’d say NK gives China a method to threaten but hide behind the NK mask. It mostly a bluff, which has worked so far, but President Trump has called their bluff.

        Like

  12. Watcher says:

    President Trump knows you don’t need a “NK Spring” to get regime change.
    Rocket boy and his top henchmen days are numbered.

    Liked by 1 person

  13. daughnworks247 says:

    I’m absolutely dumbfounded. Speechless. In awe.
    DAMN – President Trump pulled it off. This is impressive.
    We’ve complained about China for 2 decades but President Trump delivered.
    We all knew Trump would be a great President
    BUT
    We never thought he would be THIS GOOD.

    Liked by 6 people

    • MaineCoon says:

      They don’t because what nation is going to commit hari kari and go down with NoKo? None.

      Like

      • MaineCoon says:

        On second thought there might be a few…starting with Iran.

        Like

      • WSB says:

        I still wonder if rogue nations who sign up for OBOR might launder funds?

        They may not currently do business with the US. The only counterpoint to that is if funds are repayments to Chinese banks in the form of loans or lines of credit, there should be trails for the US Treasury to chase.

        Like

  14. M33 says:

    THIS is amazing!!

    Sundance–you deserve an award for quality journalism!!!

    Liked by 4 people

  15. Minnie says:

    Hahahah kind of off topic . . . listening to Pandora here in the office while posting to the Treehouse.

    What should come on, just now?

    “Rocket Man” (Elton John)!!!

    Hahahaha 🙂 🙂

    Liked by 7 people

  16. lfhbrave says:

    Hope POTUS keeps in mind that China has numerous underground banks operated by well-connected business men/entities in China.

    Liked by 1 person

  17. Bree says:

    Wonderful news. Another win for our POTUS and the American people.

    Liked by 3 people

  18. chojun says:

    Haha. An upcoming press briefing at 2:30 is expected to have Treasury Secretary Mnuchin announcing new sanctions against North Korea. Looks like today’s the day that Trump lets the wolverines have another go.

    Liked by 1 person

  19. My question at this point is how will Rocket Man respond to all this.

    Like

  20. jameswlee2014 says:

    I have it on good authority that “rocket man” was a consensus choice after, “Fat Gook” “Korean Aunt Jemima Lookin’ Motherfu*^#&r”, and “Bowling Ball Head”, made strong showings.

    Liked by 2 people

  21. Ditch Mitch says:

    Initially more rockets. Then BOOM! Realization PDJT was serious.

    Like

  22. Paul Killinger says:

    IF you believe them, and why should we…? Ever since Bill Clinton got China admitted into the WTO, they’ve been lying and stealing their way to the top.

    My personal favorite was their counterfeit aircraft replacement parts, which came in boxes that made them look like they were manufactured by a bona fide outfit.

    The way they were caught was when someone noticed the serial numbers on the castings were all IDENTICAL, which sums up the Chinese “economic miracle” quite nicely.

    MAGA, Mr President. And thank you!

    Liked by 4 people

  23. Grace Reeves says:

    Thanks to President Trump and his team.

    Liked by 1 person

  24. scott467 says:

    “BEIJING/HONG KONG (Reuters) – China’s central bank has told banks to strictly implement United Nations sanctions against North Korea, four sources told Reuters, ”

    ________________

    Let me guess…. Huey, Dewey, Louie and Wile E. Coyote?

    It’s a farce.

    Nobody in the MSM identifies their sources anymore, on anything. They might as well preface the word “sources” with “Hearsay”.

    They’re either making it up out of whole cloth, or they expect us to believe them when they have zero credibility, and either way, it’s a farce. It’s Mad Magazine.

    Its’ like Carl Bernstein using Bob Woodward as his ‘source’ and calling him “Deep Throat”.

    If you can’t name your ‘source’, if nobody will go ‘on the record’, then for all intents and purposes, you don’t HAVE a ‘source’, you’re just making stuff up.

    Like

  25. scott467 says:

    The sources said banks were told to stop providing financial services to new North Korean customers and to wind down loans with existing customers, following tighter sanctions against Pyongyang by the United Nations.

    The sources said lenders were asked to fully implement United Nations sanctions against North Korea and were warned of the economic losses and reputational risks if they did not do so.”

    ____________

    What, I’m supposed to just take your word for it?

    I’m supposed to just trust Reuters, based on their sterling reputation and history of straight shooting?

    LOL!

    You gotta be kidding.

    ‘The sources said’….

    Tell me another one.

    Like

  26. progpoker says:

    So I’m curious, have we entered the Big Ugly stage yet or is this still the prelude??
    Trying to adjust for expectation inflation. Our President is AMAZING!!

    Liked by 1 person

  27. Martin says:

    Let’s not leave God out of this. Who knows, that with the loss of their Chinese patron, if the NorKs don’t start reunification inroads with Seoul. It’s easy to assume that they would rather die, but they’re only now faced with the strong possibility of total economic collapse, and with all that prosperity right across the DMZ…

    If God intends a unified Korea, this would be a possible first step.

    Like

  28. Rex says:

    Point of order – not nitpicking:
    Beijing “Takes a Knee” does not mean what you think it means… (assuming you are using American football vernacular)

    Good post !

    Like

  29. daughnworks247 says:

    Hey Sundance, FYI, I am an admin for a big Trump group on Facebook.
    I shared this post and thus far 500+ comments and 122 shares.
    We are getting the word out.
    God Bless!!

    Liked by 1 person

  30. fedback says:

    Rocket Man

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s